NEW YORK--(BUSINESS WIRE)--Fitch Ratings withdraws the 'AA+/F1' credit enhanced rating assigned to the following bond:
-- Metropolitan Transportation Authority (NY) dedicated tax fund variable rate refunding bonds series 2008A-2.
The long-term rating assigned to the bonds is revised to 'AA-' with a Stable Outlook based on the underlying rating assigned by Fitch to Metropolitan Transportation Authority's dedicated tax revenue bonds.
The rating withdrawal is in connection with the conversion of the bonds from the Weekly Mode to a Term Mode and termination of the Bank of Tokyo-Mitsubishi UFJ, Ltd. letter of credit (LOC) supporting the bonds. The mandatory tender and termination of the LOC occurred on June 18, 2014.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research
-- Rating Guidelines for Letter of Credit-Supported Bonds and Commercial Paper' (June 2, 2014).
Applicable Criteria and Related Research:
Rating Guidelines for Letter of Credit-Supported Bonds and Commercial